Buying Dilemma
Discussion
A neighbour of mine has a stunning A4 1.8T up for sale, and due to him moving abroad for 3 years, needs to sell it quickly. He has already advertised it once, but only locally, unsure of whether he would definitely need to part with it. It is now up again, for considerably less than had originally been advertised and knowing him for the last 10 years, he is very meticulous about the cars he has had.
My dilemma is that I really want it, but having less than a week before he goes away, it would be impossible for me to raise the cash myself, and would also require getting rid of mine to allow the cash to buy his. Mine has a loan attached that I would continue to pay off having sold my current car and use this in its place, saving some money and also having some change to put towards the outstanding balance.
How would fellow PHers go about this situation, if say like me, you don't have the cash there to be able to just buy it? I would need to put a bit of money into my current car to get it looking in sale condition and don't really want to have to part with it for much less than it would be worth.
Not expecting anything overly elaborate, but wondered how others would go about this and the possible options available.
My dilemma is that I really want it, but having less than a week before he goes away, it would be impossible for me to raise the cash myself, and would also require getting rid of mine to allow the cash to buy his. Mine has a loan attached that I would continue to pay off having sold my current car and use this in its place, saving some money and also having some change to put towards the outstanding balance.
How would fellow PHers go about this situation, if say like me, you don't have the cash there to be able to just buy it? I would need to put a bit of money into my current car to get it looking in sale condition and don't really want to have to part with it for much less than it would be worth.
Not expecting anything overly elaborate, but wondered how others would go about this and the possible options available.
That has been my only feasible thought really. I know that it would be such a great opportunity to miss out on as I know the car is cared for and looked after so well.
I'm going to go and have a chat with him this evening and this will be one of the routes that I mention, but will have to see whether he thinks its something he is willing to do. Not sure whether anyone else has other alternatives. Don't know whether borrowing additional money to buy his is the best route to go..
I'm going to go and have a chat with him this evening and this will be one of the routes that I mention, but will have to see whether he thinks its something he is willing to do. Not sure whether anyone else has other alternatives. Don't know whether borrowing additional money to buy his is the best route to go..
I'm sure it's very nice but it's an A4. If you just like the spec, I'm sure there are plenty of similar ones that you could buy once you've freed up the necessary cash.
If the main reason you want it is because it's a bargain, then can't you get a short term loan to cover the purchase price and then pay it off again once you sell your existing car?
If the main reason you want it is because it's a bargain, then can't you get a short term loan to cover the purchase price and then pay it off again once you sell your existing car?
That's what my mind keeps telling me Alex. I know I can't really afford it at the moment, and would prefer to wait and spend some money on what I have now to get it to the standard that I want it at. I think its the fact of missing a great opportunity keeping me holding on to it.
As someone said, it is an A4, but having been browsing fairly regularly for these, as well as other models in a similar price range, it has come along at both the right and wrong times. A short term loan would be an option, but the thing that would worry me is not being able to guarantee a quick sale on my current car. I'm conscious of my financial position and don't want to put myself at risk because an opportunity has arisen that I don't want to lose out on.
The only reason it is cheap now is due to his circumstances and having already viewed and driven it when it was initially advertised, i'd told myself i'd love it, but that I didn't really have the money available. Now he has had to reduce the price, I feel like it's toying with me as I gratefully declined the first time.
As someone said, it is an A4, but having been browsing fairly regularly for these, as well as other models in a similar price range, it has come along at both the right and wrong times. A short term loan would be an option, but the thing that would worry me is not being able to guarantee a quick sale on my current car. I'm conscious of my financial position and don't want to put myself at risk because an opportunity has arisen that I don't want to lose out on.
The only reason it is cheap now is due to his circumstances and having already viewed and driven it when it was initially advertised, i'd told myself i'd love it, but that I didn't really have the money available. Now he has had to reduce the price, I feel like it's toying with me as I gratefully declined the first time.
Jw Vw said:
Alex said:
If I was you, alarm bells would be ringing in my head saying "I can't afford this right now."
+1Be careful if it's gonna stretch you financially OP.
You would need to be sure that you could sell your own car pretty quickly and settle your loan or else you risk effectively financing 2 cars whilst paying running costs on both as well.
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